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...outlook gets murky and experts' crystal balls differ. Karen Ghaffari, a managing director at Fitch Ratings, expects unemployment to peak in the second quarter at 10.4% before slowly starting to decline. "It will average 10.2% for the year," which will impact consumer spending and confidence, she says. Howard Davidowitz, chairman of Davidowitz & Associates, a retail-consulting and investment-banking firm, is even more bearish, predicting unemployment will hit 11% before it peaks. "I think we're in for a very rough year...
Even as Glaciergate - yes, that's what they're calling it - unfolded, there were new claims that the IPCC had essentially trumped up the link between climate change and the rising toll from natural disasters. IPCC chairman Rajendra Pachauri, who accepted the group's Nobel in 2007, had to dodge calls for his resignation amid charges that he was benefiting financially from global-warming research. Very suddenly the global body that had seemingly closed the case on climate change was springing more leaks than, well, a melting glacier. (See pictures of this fragile earth...
Still, there's always the risk of groupthink, of the marginalization of dissenting views, in a body as big as the IPCC - something critics of the group have complained about for some time. At a meeting of major developing nations in New Delhi earlier this week, Xie Zhenhua, vice chairman of China's National Development and Reform Commission, called for the IPCC's next major assessment, due in 2014, to include a broader set of scientific viewpoints. "We need to adopt an open attitude to scientific research and incorporate all views," Xie told reporters. "Scientists are waiting for the fifth...
...Change the rules. The NFL's competition committee seems ready to move on player-safety fixes. "You start with the premise that nothing is off the table," says Atlanta Falcons president Rich McKay, a co-chairman of the committee. This is crucial, as NFL changes will not only protect athletes who suit up on Sunday; they will also trickle down to football's lower levels, reducing injury risk for all. (See pictures of eighth-graders being recruited for college basketball...
...also no coincidence that the President made his announcement while standing next to the unlikeliest populist advocate for financial reform, 82-year-old former Federal Reserve chairman Paul Volcker, a previously marginalized Obama adviser who had chastised the Administration for making insufficient efforts to limit the size and risk profiles of big banks. The White House is tired of complaints that its economic team - especially Treasury Secretary Timothy Geithner, the former New York Fed president who helped bail out AIG and other failing firms - is too close to Wall Street. Bringing the legendary gray eminence in from the cold - Obama...